condos for sale in toronto

Toronto Condo Sales Reach a Record High

It appears that new condominium developments are springing up faster than the flowers these days, and those living in the GTA are snapping them up just as fast.

Sales of new condo units set a record in April after rising by 89% compared to the same time last year, making it the best April on record.

Condos make up six out of every 10 new homes sold in the GTA so far this year.

There were 37,041 new and resale units sold in 2010, enough to make it the second best year on record, and just 3% shy of the all-time record of 38,306 units sold in 2007, according to figures from Toronto-based Urbanation Inc.

Last years total condo sales represent a 20% gain over 2009 figures.

A Toronto record of 18,221 high-rise were started last year, more than twice as many as in 2009.

Resale condominium pricing was much more affordable, with existing units selling for $374 per square foot on average in the GTA. In the city of Toronto it was $487, and in the downtown core it hit $518.

Highrises accounted for more than half the new home sales in the GTA for the first time, according to a separate report by RealNet Canada Inc. Ten years ago, they made up about a quarter of all new home sales. But that has changed as single-detached homes become out of reach for many buyers.

The simple fact is that the condo has replaced the low-rise home as the starter home of choice. It is also anticipated that over the next 15 years, the population of Toronto will increase by approximately one million people, and this will ensure the demand for starter homes in the core, which today, increasingly means condo.

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Muskoka Lakes Spring Art Tour

Date: Saturday, June 11, 2011 and Sunday, June 12, 2011
Time: 10:00 AM - 5:00 PM

Experience the talented Artisans of Muskoka Lakes! Come study the diverse selection of fine art and craft. There is painting, basketry, textile collage, pottery, metalwork, reclaimed wood creations, photography, sculpture and even jewellery. All art are created through the inspirations of the beautiful Muskoka region.

Visit 12 Studios and see all 20 Artists! To download a map click here! This is your chance to take home a piece of Muskoka!

Plus, everyone who comes on the tour will have a chance to draw one of five One Night Stay & Dine packages for two!

Sponsored by Touchstone, Windermere House, Clevelands House and many more!

Learn More About How You Can Own A Condominium On Beautiful Lake Muskoka from $125,000! Register to attend one of our Weekend Open Houses or our Information Seminar in Toronto on Tuesday, June 28th, 2011.

Art Credit:

Margo Gracey - Watercolour on canvas and paper
Jon & Suzann - Partridge Pottery

The �������Housing Slump������� - Ontario Real Estate

By Katherine Bialczyk- Prince Edward County

Is it a good idea to invest in real estate? Buy a cottage in Ontario? Or is it better to sit back and wait for the economy to correct itself? Well, for those of you lucky enough not to endue lectures about Adam Smiths Invisible Hand, I will give you my two cents on the topic.

After hearing that the current Royal LePage House Price Survey showed the average price of a home in Canada increased between 3.5 and 4.3 per cent in the first quarter of 2011, compared to the previous year, you may be thinking, Wait, I thought we were in a recession? Well, this leads us to the housing slump.

Often, the average individual seems slightly confused by the talk about the housing slump, so I am here to shed some light on the topic.

When the rate of housing purchases slows, it has a severely negative impact on the consumer spending since property is typically the most expensive thing a family or individual will purchase. The strange dichotomy to this situation is that when people dont spend their money on houses, they tend to save most of their money. This means that all of the banks have a large amount of funds to lend out, but less people are willing to borrow, say for a mortgage. This lowers the cost to borrow (also known as interest rates) and in a sense, lowers the cost to buy a home. Only once consumers recognize the lower interest rates, will there be a turnaround where people begin to buy homes again. Over time, the housing slump will correct itself via falling mortgage rates and property values.

This explains why even though the rate of year-over-year price appreciation slowed slightly in the first quarter, home values continued the upward climb starting late in the second quarter of 2009. As markets continued their post-recession recovery, low interest rates and a recovering economy continued to fuel activity in Canadas housing markets over the past year, which has led to country-wide increases in average home prices. In the first quarter of 2011, the national average price of a detached bungalow rose 4.3 per cent year-over-year to $341,355, while standard two-storey homes rose 3.5 per cent to $379,388 and standard condominiums rose 4 per cent to $237,919.

In Toronto detached bungalows and standard condominiums made healthy gains increasing 4.5 per cent and 3.7 per cent respectively. While in Ottawa, first-time buyers continue to drive the housing market as the region saw year-over-year price appreciation ranging between 5.2 to 5.9 per cent across all housing types surveyed this quarter.

In my opinion, as the economy begins on this upward trend, now is a great time to buy property, invest in real estate or even buy a waterfront cottage. So go have a drink and enjoy some prize Ontario real estate!

Cheers!

To learn how YOU can own a cottage in Prince Edward County register now.

New Listing Feb. 2011 Muskoka Wharf

Only 5 suites left. Up to 40% off the original builders price!

Physio Plus Would like to Welcome Tridel to the Neighborhood

Many of the local businesses are very excited about Tridel coming to the neighborhood. Physio Plus wanted to welcome Tridel.

Old Mill is one of Toronto's last real villages, a quiet and refined neighbourhood steeped in old-world charm with its quaint Tudor homes, centuries-old trees and picturesque proximity to the lush Humber Valley.

Yet Tridel's One Old Mill is set within many of Toronto's new world luxuries, just steps from the subway and conveniently connected with the fashionable boutique shops, cafs and open markets of the Kingsway and Bloor West Village. Discover this intimate and elegant hideaway, right here, in the heart of Old Mill.

Ocular Canada Would like to Welcome Tridel to the Neighborhood

Many of the local businesses are very excited about Tridel coming to the neighborhood. Ocular Canada wanted to welcome Tridel.

Old Mill is one of Toronto's last real villages, a quiet and refined neighbourhood steeped in old-world charm with its quaint Tudor homes, centuries-old trees and picturesque proximity to the lush Humber Valley.

Yet Tridel's One Old Mill is set within many of Toronto's new world luxuries, just steps from the subway and conveniently connected with the fashionable boutique shops, cafs and open markets of the Kingsway and Bloor West Village. Discover this intimate and elegant hideaway, right here, in the heart of Old Mill.

The Coffee Tree Would like to Welcome Tridel to the Neighborhood

Many of the local businesses are very excited about Tridel coming to the neighborhood. The Coffee Tree wanted to welcome Tridel.

Old Mill is one of Toronto's last real villages, a quiet and refined neighbourhood steeped in old-world charm with its quaint Tudor homes, centuries-old trees and picturesque proximity to the lush Humber Valley.

Yet Tridel's One Old Mill is set within many of Toronto's new world luxuries, just steps from the subway and conveniently connected with the fashionable boutique shops, cafs and open markets of the Kingsway and Bloor West Village. Discover this intimate and elegant hideaway, right here, in the heart of Old Mill.

Cecil Ward Would like to Welcome Tridel to the Neighborhood

Many of the local businesses are very excited about Tridel coming to the neighborhood. Cecil Ward wanted to welcome Tridel.

Old Mill is one of Toronto's last real villages, a quiet and refined neighbourhood steeped in old-world charm with its quaint Tudor homes, centuries-old trees and picturesque proximity to the lush Humber Valley.

Yet Tridel's One Old Mill is set within many of Toronto's new world luxuries, just steps from the subway and conveniently connected with the fashionable boutique shops, cafs and open markets of the Kingsway and Bloor West Village. Discover this intimate and elegant hideaway, right here, in the heart of Old Mill.

Browns Sports Would like to Welcome Tridel to the NeighborhoodBrowns Sports Would like to Welcome Tridel to the Neighborhood

Many of the local businesses are very excited about Tridel coming to the neighborhood. Browns Sports wanted to welcome Tridel.

Old Mill is one of Toronto's last real villages, a quiet and refined neighbourhood steeped in old-world charm with its quaint Tudor homes, centuries-old trees and picturesque proximity to the lush Humber Valley.

Yet Tridel's One Old Mill is set within many of Toronto's new world luxuries, just steps from the subway and conveniently connected with the fashionable boutique shops, cafs and open markets of the Kingsway and Bloor West Village. Discover this intimate and elegant hideaway, right here, in the heart of Old Mill.

Ariston Realty Welcomes Tridel's One Old Mill to the Neighborhood

Many of the local businesses are very excited about Tridel coming to the neighborhood. Ariston Realty wanted to welcome Tridel.

Old Mill is one of Toronto's last real villages, a quiet and refined neighbourhood steeped in old-world charm with its quaint Tudor homes, centuries-old trees and picturesque proximity to the lush Humber Valley.

Yet Tridel's One Old Mill is set within many of Toronto's new world luxuries, just steps from the subway and conveniently connected with the fashionable boutique shops, cafs and open markets of the Kingsway and Bloor West Village. Discover this intimate and elegant hideaway, right here, in the heart of Old Mill.

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